The purpose of this knowledge base article is to outline the University of Chicago’s (UChicago) approved procedures for handling deposits in various forms. All UChicago funds should be deposited and recorded in Oracle, the University of Chicago's financial system, promptly upon receipt.

 

The Central Accounts Receivable Office (Central A/R) is the University of Chicago’s primary deposit managing agent. WE DO NOT ACCEPT CASH

Your deposit must be paperclipped to a ROMR along with any applicable correspondence (DO NOT STAPLE) and routed to Central A/R in one of the following ways:

 

1. By U.S. Mail -

Regular Mail	Overnight Mail
University of Chicago Central Accounts Receivable Office PO Box 736157 Chicago, IL 60673-6157	JP Morgan Chase – Lockbox Processing Attn: Central AR LBX 736157 131 S. Dearborn, 6th Floor Chicago, IL 60603

 

2. Faculty Exchange - Use an interoffice envelope to send the deposit via faculty exchange to the Levi Building, 3N – Office 305E, Attention: Yolanda Peoples/Accounts Receivable.

 

3. Central A/R drop box - Located in the Drexel building lobby outside the glass office doors.

 

Note: All deposits received without a ROMR will be added to the Unidentified Funds Process.

 

If you have any questions, reach out to Yolanda Peoples, Director of Accounts Receivables, at yolandapeoples@uchicago.edu for more information.

1. Cash – All cash and coin must be converted to a cashier’s check by:
   1. Taking cash and coin to Maroon FCU, converting it to a cashier’s check payable only to The University of Chicago, and depositing it to Central A/R. You must fill out the Maroon Currency Transaction Form – University of Chicago (found at the bottom of ROMR)

 

2. Negotiable instruments – a signed, written document that promises or orders the payment of a fixed amount of money and is freely transferable
   1. Checks
   2. Cashier’s Checks
   3. Money Orders
   4. Foreign checks - any check not drawn on a U.S. Bank or which does not have a U.S. clearing bank listed on the check, even if the check is payable in U.S. funds., and may take 2 – 6 weeks to clear the bank. You must not receipt foreign funds in your financial system until the funds show up in your bank account at the value given by the bank

 

NOTE: The University of Chicago is transitioning to a cashless campus, with ACH as the preferred method for receiving funds. Your unit should implement processes to eliminate the use of checks, cash, and coins. Your department should be informing all check remitters of your dedicated bank account information. Instructions for Receiving a UChicago EFT (ACH/Wire) Deposit

The following entities have been assigned equipment that empowers them to process their deposits directly in all forms (checks, money orders, cashier’s checks, and ACH/Wire). Please reach out to your department’s financial team for further directions on the deposit process:

Department	Deposit Contact
Alumni Relations & Development (ARD)	gifts@uchicago.edu
Booth School of Business	AccountingHelp@chicagobooth.edu
Globus	accounting@globus.org
Polsky Center for Entrepreneurship and Innovation	accounting1@uchicago.edu
The University of Chicago Press	ucpbank@lists.uchicago.edu
University Research Administration (Sponsored Awards)	spon_award_acct@uchicago.edu
Urban Education Institute (UEI)	lgudek@uchicago.edu